First Lien - Law Dictionary Search Results

Maritime lien

Matched in: Term Maritime lien

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effect of a mortgage by a court of equity because the parties intended it to be a mortgage first mortgage : a mortgage that has priority over all other security interests except those imposed by law fixed … [shows that a deed was intended only as a "W. M. McGovern, Jr. et al."] b : a lien against property that is granted to secure an obligation (as a debt) and that is extinguished upon payment

Receivers certificate

the preservation of the assets held by him as for operating a railroad Receivers certificates are ordinarily a first lien on the assets prior to that of bonds or other securities